The two films earned eight nominations apiece, including nods for best picture, best director (Paul Thomas Anderson for "Blood" and Joel and Ethan Coen for "No Country") and best adapted screenplay (Anderson and the Coens again). The Academy of Motion Picture Arts and Sciences will hand out the Oscars on Sunday, Feb. 24.

Fellow best picture nominees "Atonement" and "Michael Clayton" each have seven nominations, with "Atonement" also picking up nods for Christopher Hampton's adapted screenplay, supporting actress Saorise Ronan, cinematography and original score. "Michael Clayton's" writer-director Tony Gilroy was nominated in both the original screenplay and directing categories, and stars George Clooney, Tilda Swinton and Tom Wilkinson all scored acting nods.

The fifth best picture nominee is "Juno," which also scored nods for Ellen Page as best actress, Jason Reitman as best director and for Diablo Cody's original screenplay.

Other multiple nominees include Pixar's "Ratatouille," which has five including best original screenplay and best animated feature; "The Diving Bell and the Butterfly," whose four nods include one for director Julian Schnabel; and "Sweeney Todd" with three, including one for lead actor Johnny Depp.

Schnabel's best director nomination left "Atonement" director Joe Wright on the outside. He's the only director of a best picture nominee not to make the best director cut.

Here are the nominees:

Best Picture

"Atonement""Juno""Michael Clayton""No Country For Old Men""There Will Be Blood"

Paul Thomas Anderson, "There Will Be Blood"Joel Coen and Ethan Coen, "No Country for Old Men"Christopher Hampton, "Atonement"Ronald Harwood, "The Diving Bell and the Butterfly"Sarah Polley, "Away from Her"

"No End in Sight""Operation Homecoming: Writing the Wartime Experience""Sicko""Taxi to the Dark Side""War/Dance"

Best Cinematography

Roger Deakins, "The Assassination of Jesse James by the Coward Robert Ford"Roger Deakins, "No Country for Old Men"Robert Elswit, "There Will Be Blood"Janusz Kaminski, "The Diving Bell and the Butterfly"Seamus McGarvey, "Atonement"

Best Editing

Jay Cassidy, "Into the Wild"Roderick Jaynes, "No Country for Old Men"Christopher Rouse, "The Bourne Ultimatum"Dylan Tichenor, "There Will Be Blood"Juliette Welfling, "The Diving Bell and the Butterfly"